Some problems with judging rationality

Swistak, Piotr

University of Maryland

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The gap between game-theoretic predictions and actual choices people make in, for instance, gaming experiments has been over-interpreted as evidence against rationality of players. I consider a version of the ultimatum game and examine its equilibria under different assumptions about players’ preferences. Using standard notions of rationality I show that the discrepancy between the “normative” and the “descriptive” cannot be established by a simple comparison of what is predicted by the equilibrium choices and the actual choices


Journal Decyzje 
Issue 23 
Issue date 6/2015 
Type Article 
Language en
Pagination 5-22
DOI 10.7206/DEC.1733-0092.44
ISSN 1733-0092
eISSN 2391-761X